Versatile Mixed-Use Property in Van
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14518 Erwin St, Los Angeles, CA 91411
LAC2-zoned property suitable for retail, office, industrial, or residential uses.
Property Size5,000 SF
Price / SF$390
Days on Market919
Property Features for 14518 Erwin St
General Information
Standard status
Active
Size
5,000 SF
Class
C
Property subtype
Industrial, Mixed Use, Retail
Zoning
LAC2
Investment Type
Owner/User
Building Details
Year Built
1929
Buildings
1
Stories
1
Listing Agency:
Peak Commercial
Listed By:
William White · License #CA 01970431
Source:
Crexi
Added: Feb 23, 2024
Changed: Aug 14
Last Checked: Aug 29 at 2:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Peak Commercial
Investment Insights
Based on property information with market context.
This LAC2-zoned property offers flexibility for an owner-user, with permitted uses including retail, office, industrial, and residential-related operations. The property features refinished floors for a showroom finish. Previously used as a cannabis retail location, the property is currently 100% vacant. It includes 2 secure entrances and a gated back lot providing space for 4 or more parking spaces. Situated steps from the Van Nuys Courthouse and Van Nuys Blvd, the site benefits from a visible and central position in the Van Nuys Civic Center area. Additional conveniences include a public parking lot directly across the street and dual alleyway access, enhancing accessibility and operational efficiency. The property size is 5000 square feet.
Key Highlights
- High‑visibility location in the Van Nuys Civic Center area, steps from the Van Nuys Courthouse and Van Nuys Blvd.
- Flexible LAC2 zoning permits retail, office, industrial, and residential‑related uses.
- 100% vacant, offering immediate owner‑user or investment opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,250
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,000
$2.0M
Cap Rate 7%
$1,446,429
$1.4M
Cap Rate 9%
$1,125,000
$1.1M
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.0K $36.00/SF
− Vacancy
−$18.0K −$3.60/SF
EGI
$162.0K $32.40/SF
− OpEx
−$60.8K −$12.15/SF
NOI
$101.3K $20.25/SF
Area
Los Angeles, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,025,000
Cap Rate 7%
$1,446,429
Cap Rate 9%
$1,125,000
Alternative Uses
Best Use
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,250 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$101.30M
$88.63M – $118.18M
NOI $7,090,790 @ 7.0% cap · market cap 363.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 91411, CA
24,984
Population
10,003
Households
2.5
Avg Household Size
36
Median Age
37%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
12,492
Density / Sq Mi
$77,582
Median Household Income
$42,096
Median Earnings
$1,850
Median Rent
$973,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - LAC2-zoned property suitable for retail, office, industrial, or residential uses.
Where is this mixed-use property located?
The property is located at 14518 Erwin St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: High‑visibility location in the Van Nuys Civic Center area, steps from the Van Nuys Courthouse and Van Nuys Blvd.; Flexible LAC2 zoning permits retail, office, industrial, and residential‑related uses.; 100% vacant, offering immediate owner‑user or investment opportunity.
